Life Insurance Premium Deduction at Life

Life Insurance Premium Deduction. Tax deduction can be claimed on life insurance premium paid by an individual or huf under section 80c of income tax act 1961. For employees and officers of a business, if the premiums of a life insurance policy are paid for directly by the company, and the company is not a beneficiary (either direct or indirect), the premiums can be deducted as long as the death benefit is for the benefit of the employees.

This deduction is available to both individuals and hufs under. For employees and officers of a business, if the premiums of a life insurance policy are paid for directly by the company, and the company is not a beneficiary (either direct or indirect), the premiums can be deducted as long as the death benefit is for the benefit of the employees. Eligible deduction under section 80c of income tax act 1961.

MOH Premium & Subsidy Tables

All your investments under this bucket can be added up and can give you a. This deduction is available to both individuals and hufs under. Affordable, flexible term life insurance at your pace. If the premium is paid towards a deferred annuity plan, the premium would be allowed as a deduction under this section.